Antico & Partners announces the achievement of significant legal outcomes in two complex cases aimed at combating fraudulent practices carried out by a real estate developer and protecting the rights of a creditor who had been prejudiced over a long period of time.
The first case, finally resolved by the Bucharest Court of Appeal, concerned the admission of a Paulian action (fraudulent conveyance) and the declaration of unenforceability against the creditor of a dation in payment agreement concluded in fraud of the creditor. The court found that, through this transaction, the debtor disposed of all real estate assets held by the company, including an apartment that was the subject of a bilateral promise to sell and purchase concluded in 2010 with Antico & Partners’ client. The dation in payment agreement directly led to the company’s insolvency, depriving the creditor of any real possibility of recovering its claim. After more than seven years of litigation, the court established the existence of fraud and damages, reopening the possibility for the client to enforce its rights.
The second case concerned the establishment of the personal liability of the former directors and shareholders of the debtor company, which was undergoing bankruptcy proceedings. In this matter, the Antico & Partners legal team succeeded in proving gross mismanagement of the company, including the failure to hand over all accounting records and breaches by the former directors and shareholders of the legal obligations imposed by insolvency legislation, conduct that significantly hindered the identification of financial flows. The court found the fraudulent nature of the directors’ and shareholders’ conduct and ordered that their personal liability be engaged, thereby strengthening the creditor’s position and creating the premises for recovery of the damage suffered.
The solutions obtained in these two cases confirm that a company’s bankruptcy cannot serve as a mechanism to evade liability for unlawful acts and that directors and shareholders may be held personally liable for damages caused to creditors.
These results further strengthen Antico & Partners’ position as a trusted partner in complex commercial and insolvency litigation, demonstrating the firm’s ability to protect the interests of creditors affected by abusive conduct of contractual partners, as well as clients impacted by the opening of bankruptcy proceedings against their commercial counterparts.
The court decisions represent a relevant precedent for the real estate market and send a clear signal regarding the need to respect the rights of creditors and good-faith prospective buyers.
The Antico & Partners legal team involved in these cases included Diana Feher, Associate Attorney, and Rozana Cozma, Partner, coordinated by Oana Antico, Co-founding Partner, demonstrated solid expertise in insolvency law, corporate law, and complex commercial litigation, as well as a high level of commitment throughout both proceedings.
With over 15 years of experience, Antico & Partners provides legal assistance and representation across a wide range of practice areas, including civil, corporate, commercial, tax, M&A, competition (antitrust), employment law, family law, insolvency and bankruptcy, fashion law, and more, both in advisory and litigation matters. Through its collaborators in Italy and the Republic of Moldova, the firm ensures personalized legal support for local and international clients.
